LONDON, UK / ACCESSWIRE / April 25, 2018 / Active-Investors.com has just released a free research report on Newell Brands Inc. (NYSE: NWL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NWL as the Company's latest news hit the wire. On April 23, 2018, the Company shared that it has signed an agreement to end the ongoing proxy war with hedge fund activist investor Starboard Value LP ("Starboard"). The Company's move has the full support and cooperation of its other activist investor Carl C. Icahn of Icahn Enterprises, L.P. (NASDAQ: IEP). Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Newell Brands most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Terms of the Agreement with Starboard

As per the agreement with Starboard, the Company's Board of Directors have made changes to its Board composition. Accordingly, two new members have been added to the Company's Board. These include independent directors, Gerardo I. Lopez and Robert A. Steele. Both appointments are effective immediately. Steele has also been made a part of the Board's Finance Committee, Chaired by Courtney Mather. He will be overseeing the Company's financial matters, including divestment considered by the Company as part of its Transformation Plan, and giving his inputs and recommendations to the Board.

In addition, the Company plans to nominate Starboard's representative, Bridget Ryan Berman, for election to the Board during its 2018 Annual Meeting of Shareholders. The candidature of Berman has been jointly approved by Starboard and Carl Icahn.

As new members were added, one of the Board member, Andrew Langham, has agreed to give up his position in the Board, effective immediately; and another Board member, David Atchison, has agreed to not contest the election for the Board position. The changes effected in the Board of the Company have been possible due to the support received from activist investor Carl Icahn, whose representatives, Andrew Langham and David Atchison, vacated two positions on the Board.

Given the current changes to the Board, as well as the election of Ms. Ryan Berman and Ms. Judith Sprieser during the Company's 2018 Annual Meeting of Shareholders, the revised Board of Company will have a total of 12 members. The majority 11 members of the Board will be independent directors who are qualified and experienced leaders in their respective fields. In the meantime, Berman and Sprieser will be working as Board observers till the time of their election.

On its part, Starboard has agreed to withdraw all its candidates who had been nominated to contest the election at the Company's 2018 Annual Meeting of Shareholders. The Company has also amended its agreement with Carl Icahn accordingly.

The changes to the Company's Board are expected to end the proxy war between Newell Brands and Starboard on a positive note.

Backdrop

According to the Company, Martin Franklin, the former Chief Executive Officer (CEO) and Chairman of Jarden (Jarden was acquired by Newell in 2016) and his associates had waged a proxy war against Newell Brands via hedge fund investor Starboard. Franklin became a Board member of Newell Brands as part of the Jarden acquisition. However, Franklin wanted to lead the Board and wanted to become the Chairman of the Company's Board. However, his plan to be made the Chairman of the Board was not supported by a majority of the Company's Board members. Following this, Franklin and a few of his supporters resigned from the Company's Board in January 2018 without giving any valid reasons. Later, Franklin aligned with Starboard and attempted to take over the control of Newell Brands by replacing the Company's entire Board and management team. Starboard had even nominated 12 candidates to contest the election for the Board positions during the Company's 2018 Annual Shareholders Meeting. Starboard has continuously questioned the Company's governance, operating performance, business plans, and creating value for its shareholders. Newell Brands had been fighting tooth and nail against Starboard's various attempts to undermine the management of the Company and its future growth plans.

The current agreement is expected to bring this proxy war to an end which was detrimental to the overall interests of Newell Brands.

Management Quotes

Commenting on the changes to the Company's Board, Patrick Campbell, Chairman of the Board of Directors of Newell Brands, said:

"We are pleased to welcome Gerry and Robert to the Newell Brands Board of Directors and Bridget's nomination to the Board as well. They each bring highly-relevant industry experience and perspectives, and we look forward to benefiting from their insights. We also greatly appreciate Carl Icahn's willingness to amend our agreement, and the willingness of his appointees, Messrs. Langham and Atchison, to step down."

Michael Polk, CEO of Newell Brands, commented:

"This agreement will enable the Company to now focus exclusively on the execution of our transformation plans and our efforts to strengthen our financial and operational performance."

Carl C. Icahn, Chairman of Icahn Enterprises, stated:

"The Company reached out to us and requested that we give up two board seats to avoid a potentially disruptive proxy fight, which could have been especially bad at this important time for the Company. We spoke to Jeff Smith and determined we both have similar goals and objectives to enhance shareholder value, and we therefore agreed to give up two of our seats to avoid a damaging proxy fight."

Jeff Smith, CEO and Chief Investment Officer of Starboard, added:

"We are pleased to have worked constructively with Newell Brands and Carl Icahn to resolve this election contest and look forward to seeing significantly improved results and shareholder value creation over the coming months and years."

About Newell Brands Inc.

Hoboken, New Jersey-based Newell is a global consumer goods Company. Some of the leading brands of the Company's products include Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer's®, Coleman®, Jostens®, Marmot®, Rawlings®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, Waddington, and Yankee Candle®.

About Starboard Value LP

New York-based Starboard is an investment adviser that invests in deeply undervalued publicly traded US Companies and actively engages with management teams and Boards of Directors to identify and execute on opportunities to unlock value for the benefit of all shareholders. Jeff Smith and Mark Mitchell founded the hedge fund in 2002.

Stock Performance Snapshot

April 24, 2018 - At Tuesday's closing bell, Newell Brands' stock advanced 1.13%, ending the trading session at $26.77.

Volume traded for the day: 11.76 million shares, which was above the 3-month average volume of 10.89 million shares.

Stock performance in the last month ? up 5.60%

After yesterday's close, Newell Brands' market cap was at $13.38 billion.

Price to Earnings (P/E) ratio was at 9.03.

The stock has a dividend yield of 3.44%.

The stock is part of the Consumer Goods sector, categorized under the Housewares & Accessories industry.

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